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Click to CallRemodeling or renovating a home takes time, effort, and money and introduces new risks, so homeowners need to protect themselves financially during and after the process. The risks that occur during the remodeling process and the typically increased home values mean you should discuss your planned changes with your insurance agent before starting the process. If you live in or near Temecula, CA, consider working with our Friant Insurance Agency team for your home and other insurance needs.
Remodeling and Renovating Increases Your Insurance Risk
Home insurance protects against damage and injuries to or on your property. While homeowners should always be aware of potential risks, they must recognize the risks that increase during the home improvement process.
You may have outside workers on site, valuable materials and tools on your property, and mishaps involving electrical, plumbing, and HVAC systems can result in damage. These increased risks are why many insurance companies require homeowners to notify their agents before starting a remodeling project. The failure to notify may lead to a lack of coverage for specific events.
In addition, renovations that add square footage, new infrastructure, appliances, or other upgrades can increase your home’s value. On the other hand, certain upgrades, especially those to electrical and heating systems, can reduce the likelihood of future damage, leading to lower risk and insurance premiums. So, whatever your remodeling plans, speak with your agent before starting the project.
Protecting Your Home with the Friant Insurance Agency
Home remodeling is a financial and emotional investment, so it is important to protect your assets. If you live in or near Temecula, CA, our Friant Insurance Agency team can ensure you obtain the home and other insurance protection you need. Please stop by the office or call (800) 486-5108 today.
